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In which type of economy does the government decide all or most economic questions?
In a command economy, the government makes all or most economic decisions, controlling the production, distribution, and pricing of goods and services. This system often prioritizes collective goals over individual preferences, leading to centralized planning. Examples include historical contexts like the Soviet Union and North Korea.
What else can I help you with?
What economic system that relies on habit custom or ritual to decide questions of consumption and production of goods and services?
Traditional Economy
What is the economic system that relies on habit custom or ritual to decide questions of consumption and production of goods and services?
a centrally planned economy
Which economic system decide what to sell and what price?
If the government is deciding which goods to sell and at what price, it is known as a command economy. If individuals are deciding, it is known as a market economy.
Which of the four econoic systems has the most involvement with the government?
Of the 4 economic systems the one that is most directly involved with the government is command economy. The definition of command economy is an economy where supply and price are regulated by the government rather than market forces. Government planners decide which goods and services are produced and how they are distributed.
What economic system does Libya use?
Libya has a command economy. Also known as controlled or planned economy. This is where a government retains the power to decide how the nations economic resources should be allocated. It has complete control over how theses resources are used.
What economic system that relies on habit custom or ritual to decide questions of consumption and production of goods and services?
Traditional Economy
What is the economic system that relies on habit custom or ritual to decide questions of consumption and production of goods and services?
a centrally planned economy
Which economic system decide what to sell and what price?
If the government is deciding which goods to sell and at what price, it is known as a command economy. If individuals are deciding, it is known as a market economy.
Which of the four econoic systems has the most involvement with the government?
Of the 4 economic systems the one that is most directly involved with the government is command economy. The definition of command economy is an economy where supply and price are regulated by the government rather than market forces. Government planners decide which goods and services are produced and how they are distributed.
What economic system does Libya use?
Libya has a command economy. Also known as controlled or planned economy. This is where a government retains the power to decide how the nations economic resources should be allocated. It has complete control over how theses resources are used.
In a command economy what does the government not do?
The government does not decide what goods consumers buy in a command economy.
State and explain the five fundamental economic questions any society must answer in attempting to achieve and maintain efficiency in the use of its scarce economic resources?
1) Decide what to produce. 2) Decide how to produce. 3) Decide how to divide the output 4) How will the economy adapt to the changing environment. 5)Don't do any of it.
In Which type of economy does the government decide what to produce how to produce and for whom to produce?
Controlled.
How is a government involved in a centrally planned economy?
In a centrally planned economy, the central government decide which part of the country to allocate cash and which one not to.
Which type of economy does the government decide what to produce how to produce and for whom to produce?
Controlled.
What type of economy does the government decide what to produce and how to produce and for whom to produce?
Controlled.
What type of economy does the government decide what to produce how to produce and for whom to produce?
Controlled.
